Question

Choose between (increase, decrease or no effect)

1) Rosie's employees earned $2,400 in wages that won't be paid until next month.

Assets = ["increase", "decrease", "no effect"]   

Liabilities = ["increase", "decrease", "no effect"]   

Owners Equity = ["increase", "decrease", "no effect"]      

2)

Rosie paid cash to the Crescent City marathon to be a premium sponsor. Premium sponsors have their names printed on the race tee shirt and advertising materials. The race will take place in two months.

Assets = ["increase", "decrease", "no effect"]

Liabilities = ["increase", "decrease", "no effect"]   

Owners Equity= [ "increase", "decrease", "no effect"]

3)

Rosie recorded depreciation on the spa's equipment.

Assets ["increase", "decrease", "no effect"]         ,

Liabilities ["increase", "decrease", "no effect"]         ,

Owners Equity    ["increase", "decrease", "no effect"]      

Answer 1

1) Rosie's employees earned $2,400 in wages that won't be paid until next month.

Assets	No effect
Liabilities	Increase
Owner's equity	Decrease

2) Rosie paid cash to the Crescent City marathon to be a premium sponsor. Premium sponsors have their names printed on the race tee shirt and advertising materials. The race will take place in two months.

Assets	No effect
Liabilities	No effect
Owner's equity	No effect

3) Rosie recorded depreciation on the spa's equipment.

Assets	Decrease
Liabilities	No effect
Owner's equity	Decrease